FRANCE: Starwood awaiting bids for California's Carneros
The sale of Taittinger is being held up as its owner awaits offers for the Champagne producer's Californian wine assets.
A spokesperson for Starwood Capital, the US real estate group that has put Taittinger on the block, said that, while bids for the Champagne assets had been received, the company was waiting on offers for Californian winery Carneros.
"Several of the offers are joint offers for the Champagne and wine activities. Bids for Carneros are due on 25 May and Starwood won't examine any of the offers before this," she told just-drinks today (22 May).
The spokesperson declined to comment on reports that India's UB Group had tabled a bid of almost GBP400m (US$750m) for Taittinger, the world's sixth-largest Champagne producer.
Earlier this month, UB had reportedly denied any interest in Taittinger. Officials in Bangalore could not be reached for comment as just-drinks went to press.
Around half a dozen suitors are understood to have been shortlisted in the race for Taittinger. The sale also includes wine assets in the Loire region of France.
Starwood bought Taittinger last July when it paid EUR2.9bn (US$3.7bn) for its parent Groupe Taittinger and an associated business, Société du Louvre.
Having pioneered the super-premium vodka category in Russia, billionaire entrepreneur Roustam Tariko is eyeing international markets with his Russian Standard Original and Imperia brands, looking to b...
Having consolidated its spirits operations into one company, UB Group is looking to build on its position of strength in the Indian market and establish itself internationally. Euromonitor Internation...
India's UB Group has announced a financing package among two of its spirits subsidiaries....
India's UB Group and Russian vodka producer Russian Standard have signed a deal that will see the companies distribute each other's products in their respective markets....
United Breweries Ltd has posted a leap in net profit for its third quarter on the back of rising sales....
UK spirits group William Grant & Sons has distanced itself from the race to buy Whyte & Mackay....
Takeover talks between UB Group and Whyte & Mackay are believed to have stalled with no resolution expected for a few weeks, just-drinks understands....
The owner of India's UB Group is in Scotland, holding talks with takeover target Whyte & Mackay, just-drinks has discovered....
- Whatever happened to binge Britain? - comment
- How to turn a domestic spirit into a global brand
- The dangers of squaring up to your competitor
- The US beer market - A level playing field for all
- Remy Cointreau's Q2 and H1 - preview
- Sidney Frank CEO to head Clooney's import co
- Diageo sells off United Spirits' Bouvet Ladubay
- Captain Morgan distillation trial queried by USVI
- Irish whiskey brands could fail without bulk
- Sazerac sues Brown-Forman over Tennessee Fire
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Wine Market to 2019 - Market Size, Development, and Forecasts